Horizonte Minerals Plc (AIM: HZM | TSX: HZM) has awarded all major process plant equipment contracts for its 100% owned Araguaia nickel project in the Pará State, north Brazil.
The company will be working with FLSmidth A/S (“FLSmidth”), Metso Outotec Oyj (“Metso Outotec”), Uvån Hagfors Teknologi AB (“UHT”), Inteco Melting and Casting Technologies GMBH (“Inteco”) and other leading suppliers to the ferronickel industry. Completion of these contract awards provides certainty on costs for a material portion of the overall expenditure and ensures delivery of key equipment on site in the timeframe required.
“Completing the award of these key process related contracts is a major milestone for the development of Araguaia as, together with the previously announced award of the furnace contract, this represents around US$135M of capital expenditure on the project and provides increased confidence in our planned development timelines. The first pieces of equipment are expected on site during Q4 of this year, in line with the overall project schedule,” said Jeremy Martin, CEO of Horizonte.
“From the outset we have pursued a strategy of working with best-in-class partners. It is pleasing to see all our contracts awarded to tier 1 industry-leading suppliers who bring significant experience and successful track records at similar projects in Brazil to our already experienced team.”
About Horizonte Minerals
Horizonte Minerals is developing two 100%-owned, tier 1 projects in Parà state, Brazil – the Araguaia Nickel Project and the Vermelho Nickel-Cobalt Project. Araguaia is fully funded and in construction. The project will produce 29,000 tonnes of nickel per year to supply the stainless-steel market.
For further information please visit: https://horizonteminerals.com/uk/en/
